Pharmaceutical Corruption Media ArticlesExcerpts of Key Pharmaceutical Corruption Media Articles in Major Media
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AstraZeneca revealed details of its large coronavirus vaccine trials on Saturday, the third in a wave of rare disclosures by drug companies under pressure to be more transparent about how they are testing products that are the world’s best hope for ending the pandemic. Polls are finding Americans increasingly wary of accepting a coronavirus vaccine. Experts have been particularly concerned about AstraZeneca’s vaccine trials, which began in April in Britain, because of the company’s refusal to provide details about serious neurological illnesses in two participants, both women, who received its experimental vaccine in Britain. Those cases spurred the company to halt its trials twice, the second time earlier this month. The studies have resumed in Britain, Brazil, India and South Africa, but are still on pause in the U.S. About 18,000 people worldwide have received AstraZeneca’s vaccine so far. The company has released few details about the two cases of serious illness in its trial. The first participant received one dose of the vaccine before developing inflammation of the spinal cord, known as transverse myelitis. The condition can cause weakness in the arms and legs, paralysis, pain and bowel and bladder problems. The company said it had not confirmed a diagnosis in the second case, a participant who got sick after the second dose of the vaccine. A person familiar with the situation who spoke with The Times on the condition of anonymity said the participant’s illness had been pinpointed as transverse myelitis.
Note: Why won’t the company let the two who became seriously ill speak to the media? And why initially did they hide the fact that the illnesses were serious? And why are top vaccine executives now dumping their shares of stocks? For more along these lines, see concise summaries of deeply revealing news articles on the coronavirus and Big Pharma corruption from reliable major media sources.
Whether the coronavirus vaccine developed by Moderna succeeds or not, executives at the small biotech company have already made tens of millions of dollars by cashing in their stock. An NPR examination of official company disclosures has revealed additional irregularities and potential warning signs. Since January, CEO Stéphane Bancel has sold roughly $40 million worth of Moderna stock; Chief Medical Officer Tal Zaks has sold around $60 million; and President Stephen Hoge has sold more than $10 million. The stock sales first came to widespread notice after Moderna announced positive early data from a vaccine trial in May. At that point, the company's share price jumped and official disclosures showed executives cashing in their shares for millions of dollars. Advocates have questioned whether it's appropriate for executives to privately profit before bringing the vaccine to market, especially when American taxpayers have committed roughly $2.5 billion to the company's vaccine development. Moderna says its executives pre-scheduled their stock sales long in advance. Those schedules - known as 10b5-1 plans - can act as a defense to charges of insider trading. But the plans have to be put in place when executives do not have confidential inside information. NPR has found multiple executives adopted or modified their plans just before key announcements about the company's vaccine. That has raised questions about whether they were aware of nonpublic information when they planned their stock trades.
Note: Explore a revealing NBC article titled “Secret, powerful panels will pick Covid-19 vaccine winners.” For more along these lines, see concise summaries of deeply revealing news articles on the coronavirus and Big Pharma corruption from reliable major media sources.
What Americans need to understand about the race to find vaccines and treatments for Covid-19 is that in the U.S., even when companies appear to downshift from maximum greed levels — and it’s not at all clear they’ve done this with coronavirus treatments — the production of pharmaceutical drugs is still a nearly riskless, subsidy-laden scam. Americans reacted in horror five years ago when a self-satisfied shark of an executive named Martin Shkreli, a.k.a. the “Pharma Bro,” helped his company, Turing Pharmaceuticals, raise the price of lifesaving toxoplasmosis drug Daraprim from $13.50 to $750 per pill. Shkreli, who smirked throughout congressional testimony ... was held up as a uniquely smug exemplar of corporate evil. Really, the whole industry is one big Shkreli, and Covid-19 — a highly contagious virus with unique properties that may require generations of vaccinations and booster shots — looms now as the ultimate cash cow for lesser-known Pharma Bros. “The power of the industry combined with fear is driving extraordinary spending,” says U.S. Rep. Lloyd Doggett (D-Texas), who has been ... warning about pandemic profiteering. “It all suggests rosy times ahead for the pharmaceutical industry.” Recent House and Senate emergency-spending bills allocate as much as $20 billion or more for vaccine development, and another $6 billion for manufacturing and distribution. “The public will pay for much research and manufacturing,” says Doggett. “Only the profits will be privatized.”
Across the pharmaceutical and medical industries, senior executives and board members are making millions of dollars after announcing positive developments, including support from the government, in their efforts to fight Covid-19. After such announcements, insiders from at least 11 companies — most of them smaller firms whose fortunes often hinge on the success or failure of a single drug — have sold shares worth well over $1 billion since March, according to figures compiled for The New York Times. The sudden windfalls highlight the powerful financial incentives for company officials to generate positive headlines in the race for coronavirus vaccines and treatments, even if the drugs might never pan out. Some officials at the Department of Health and Human Services have grown concerned about whether companies are trying to inflate their stock prices by exaggerating their roles in Operation Warp Speed, the flagship federal initiative to quickly develop drugs to combat Covid-19. In some cases, company insiders ... appear to be pouncing on opportunities to cash out while their stock prices are sky high. And some companies have awarded stock options to executives shortly before market-moving announcements about their vaccine progress. “It is inappropriate for drug company executives to cash in on a crisis,” said Ben Wakana, executive director of Patients for Affordable Drugs. “Every day, Americans wake up and make sacrifices during this pandemic. Drug companies see this as a payday.”
On June 26, a small South San Francisco company called Vaxart made a surprise announcement: A coronavirus vaccine it was working on had been selected by the U.S. government to be part of Operation Warp Speed, the flagship federal initiative to quickly develop drugs to combat Covid-19. The race is on to develop a coronavirus vaccine, and some companies and investors are betting that the winners stand to earn vast profits from selling hundreds of millions — or even billions — of doses to a desperate public. Across the pharmaceutical and medical industries, senior executives and board members ... are making millions of dollars after announcing positive developments, including support from the government, in their efforts to fight Covid-19. After such announcements, insiders from at least 11 companies — most of them smaller firms whose fortunes often hinge on the success or failure of a single drug — have sold shares worth well over $1 billion since March. Senior officials appear to be pouncing on opportunities to cash out. And some companies have awarded stock options to executives shortly before market-moving announcements about their vaccine progress. Some companies are attracting government scrutiny for ... using their associations with Operation Warp Speed as marketing ploys. Vaxart’s news release declared: “Vaxart’s Covid-19 Vaccine Selected for the U.S. Government’s Operation Warp Speed.” But Vaxart is not among the companies selected to receive significant financial support from Warp Speed.
Note: MSN strangely removed this article a few days after posting it. A similar article by the New York Times titled "The race for a coronavirus vaccine is making some corporate insiders very rich" is available here. For more along these lines, see concise summaries of deeply revealing news articles on big Pharma corruption and the coronavirus from reliable major media sources.
OxyContin maker Purdue Pharma should not be able to make any more political contributions without a judge’s permission, lawyers for its creditors said in a court filing. The issue came up this week after it was reported that the company, which has a long history of influencing policymakers, made contributions to national associations representing state attorneys general and governors. The money was sent after Purdue entered bankruptcy protection last year in an effort to settle thousands of lawsuits accusing it of helping spark an opioid addiction and overdose epidemic that has contributed to more than 400,000 deaths in the U.S.. State attorneys general are among those trying to negotiate a nationwide settlement. The committee of creditors that asked for recipients to return the money to Purdue said the contributions represent a conflict. “The Political Contributions — $185,000 in donations to associations whose members include the very public servants with whom the Debtors are attempting to negotiate a consensual resolution of these cases — are precisely the sort of transaction that demand close scrutiny,” they said in a filing. In 2016, an investigation by The Associated Press and the Center for Public Integrity found that Purdue and other companies in the opioid industry, along with the advocacy groups largely funded by the industry, spent more than $880 million from 2006 through 2015 to influence state and local governments. Those efforts helped fight off restrictions on drug prescriptions.
Note: For more along these lines, see concise summaries of deeply revealing news articles on Big Pharma corruption from reliable major media sources.
Scientists have devised a way to use the antibody-rich blood plasma of COVID-19 survivors for an upper-arm injection that they say could inoculate people against the virus for months. Using technology that's been proven effective in preventing other diseases such as hepatitis A, the injections would be administered to high-risk healthcare workers, nursing home patients, or even at public drive-through sites. But the idea exists only on paper. Federal officials have twice rejected requests to discuss the proposal, and pharmaceutical companies — even acknowledging the likely efficacy of the plan — have declined to design or manufacture the shots. The antibodies in plasma can be concentrated and delivered to patients through a type of drug called immune globulin, or Ig, which can be given through either an IV drip or a shot. Yet for the coronavirus, manufacturers are only developing an intravenous solution of Ig. Intravenous plasma products are traditionally the main economic driver for the industry. The money-making antibodies are also far more diluted in intravenous drugs than in injectable ones, which boosts profit margins. “They charge a fortune off of intravenous drugs in the hospital. They don't want to devote the manufacturing plant to something that won't make oodles of money,” said one infectious disease expert. Researchers also said industry executives have little incentive to produce the immunity shots for the coronavirus, given the possibility that a longer-lasting vaccine could replace it within a year.
When Oswald Bilotta landed his dream job as a sales representative for Novartis Pharmaceuticals in 1999, he thought he'd be doing good. He had no idea that just over a decade later, he'd be part of a vast federal investigation into kickbacks at Novartis and that he'd be paying cash bribes to doctors while wearing a wire for prosecutors. On July 1, Ozzie Bilotta's years long effort to blow the whistle at Novartis paid off. The Justice Department announced a $678 million settlement with the company over improper inducements it made to doctors to prescribe 10 of the company's drugs, including the anti-hypertension drug Lotrel. The deal represents the biggest whistleblower settlement under the federal anti-kickback law, Bilotta's lawyer said. Bilotta ... could receive a pretax sum of $75 million through the settlement. In the settlement, Novartis admitted to "certain conduct" alleged by the government and will sharply curtail practices exposed by Bilotta that gave doctors incentives to prescribe its drugs. Novartis derived at least $40 million as a result of the conduct, money that was paid by federal health care programs, the government said. "For more than a decade, Novartis spent hundreds of millions of dollars on so-called speaker programs, including speaking fees, exorbitant meals, and top-shelf alcohol that were nothing more than bribes to get doctors across the country to prescribe Novartis's drugs," said Audrey Strauss, the acting U.S. attorney for southern New York, whose office prosecuted the case.
Note: For more along these lines, see concise summaries of deeply revealing news articles on big Pharma corruption from reliable major media sources.
The maker of a drug shown to shorten recovery time for severely ill COVID-19 patients says it will charge $2,340 for a typical treatment course for people covered by government health programs in the United States and other developed countries. Gilead Sciences announced the price Monday for remdesivir, and said the price would be $3,120 for patients with private insurance. The amount that patients pay out of pocket depends on insurance, income and other factors. The price was swiftly criticized; a consumer group called it “an outrage” because of the amount taxpayers invested toward the drug's development. In 127 poor or middle-income countries, Gilead is allowing generic makers to supply the drug; two countries are doing that for around $600 per treatment course. The drug, given through an IV, interferes with the coronavirus’s ability to copy its genetic material. In a U.S. government-led study, remdesivir shortened recovery time by 31% — 11 days on average versus 15 days for those given just usual care. Peter Maybarduk, a lawyer at the consumer group Public Citizen, called the price “an outrage.” “Remdesivir should be in the public domain” because the drug received at least $70 million in public funding toward its development, he said. “The price puts to rest any notion that drug companies will ‘do the right thing’ because it is a pandemic,” Dr. Peter Bach, a health policy expert ... said. “The price might have been fine if the company had demonstrated that the treatment saved lives. It didn’t.”
Note: The March coronavirus package passed in the U.S. "not only omitted language that would have limited drug makers’ intellectual property rights, it specifically prohibited the federal government from taking any action if it has concerns that the treatments or vaccines developed with public funds are priced too high." While many suffer economically from the virus, big Pharma is raking in big bucks. For more along these lines, see concise summaries of deeply revealing news articles on Big Pharma corruption and the coronavirus from reliable major media sources.
In a major legal setback for President Donald Trump on a high-profile consumer issue, a federal appeals court has ruled that his administration lacks the legal authority to force drug companies to disclose prices in their TV ads. Where most plans to overhaul the cost of drugs are complex, mandating that companies disclose prices is something any consumer can relate to. Separate from the court case, legislation that would lower drug costs for Medicare beneficiaries with high bills is stuck in Congress. There's also a separate bill that would mandate drug companies to disclose their prices in consumer advertising. On TV ads, the unanimous decision by a panel of the U.S. Court of Appeals for the District of Columbia Circuit did not address a core argument of the pharmaceutical industry, that forcing companies to disclose their prices in advertising violates their free speech rights. Instead the three-judge panel ruled that the Department of Health and Human Services overstepped its legal authority by requiring disclosure under the umbrella of its stewardship of Medicare and Medicaid. When the disclosure rule was announced last year, administration officials were confident that it would be in effect by now. Drug pricing details were expected to appear in text toward the end of commercials.
Moderna set off a frenzy on Wall Street earlier this month when it announced positive, preliminary results from its coronavirus vaccine trial. As the hype grew, the young biotech company and its leading investor wasted no time capitalizing on the briefly surging stock price. Even as critics accused Moderna of overhyping the results released on May 18, a series of transactions were executed before its share price fizzled over the next week. The timing of those deals, former SEC officials said, appear to be "highly problematic" and should be investigated for potential illegal market manipulation. Just hours after revealing the promising vaccine results, Moderna (MRNA) sold 17.6 million shares to the public. That share sale, unveiled after the closing bell on May 18, was priced at $76; Moderna traded at just $48 as recently as May 6. The deal instantly raised $1.3 billion. Two of Moderna's top executives also cashed in on the boom at their company, which had suddenly amassed a $29 billion market value despite the fact it has no marketed products. By the time the selling was disclosed to the public via securities filings, Moderna's stock price had crashed back to Earth. The timing of the transactions - coupled with concerns from some medical experts that Moderna overstated the significance of its Phase 1 vaccine trial - should be investigated by authorities. Thomas Gorman, [a] former SEC official, said the agency should "absolutely" be investigating the situation at Moderna.
Note: Why didn't the media report that the Moderna vaccine trial had a 20% serious injury rate in the high dose group? Learn about this and much more in this revealing article. For more along these lines, see concise summaries of deeply revealing news articles on Big Pharma corruption from reliable major media sources.
The drug that buoyed expectations for a coronavirus treatment and drew international attention for Gilead Sciences, remdesivir, started as a reject. To make progress, Gilead needed help from U.S. taxpayers. Lots of help. Three federal health agencies were deeply involved in remdesivir’s development every step of the way, providing tens of millions of dollars of government research support. Federal agencies have not asserted patent rights to Gilead’s drug. That means Gilead will have few constraints other than political pressure when it sets a price. “Without direct public investment and tax subsidies, this drug would apparently have remained in the scrapheap of unsuccessful drugs,” Rep. Lloyd Doggett (D-Tex.) ... said earlier this month. Doggett and Rep. Rosa L. DeLauro (D-Conn.) have asked Health and Human Services Secretary Alex Azar for a detailed financial accounting of federal support for remdesivir’s discovery and development. Watchdog groups ... have documented the large taxpayer-funded contributions toward the drug. Public Citizen estimates public investment at a minimum of $70 million. An independent organization that measures the cost-effectiveness of drugs said Gilead could be justified in charging up to $4,500 for a 10-day course of treatment for a single coronavirus patient. But advocates, citing a study by academic researchers on what it costs to make the drug, have said Gilead could break even by charging $1 per dose.
Note: According to this CNBC article Gilead is charging from $2,000 to $3,120 per patient despite huge subsidies. Gilead is the same company which developed Tamiflu and licensed it to Roche. Aggressive sales of Tamiflu to governments around the world brought profits of over $1 billion yet almost none of the doses sold were ever used, as described in this Reuters article. The study that is being used to tout Remdesivir was conducted by none other than Gilead. Could there be conflict of interest here? For more, see summaries of revealing news articles on big Pharma corruption.
The chief scientist brought on to lead the Trump administration’s vaccine efforts has spent the last several days trying to disentangle pieces of his stock portfolio and his intricate ties to big pharmaceutical interests. The scientist, Moncef Slaoui, is a venture capitalist and a former longtime executive at GlaxoSmithKline. Most recently, he sat on the board of Moderna, a Cambridge, Mass., biotechnology firm with a $30 billion valuation that is pursuing a coronavirus vaccine. He resigned when President Trump named him last Thursday to the new post as chief adviser for Operation Warp Speed, the federal drive for coronavirus vaccines and treatments. Just days into his job, the extent of Dr. Slaoui’s financial interests in drug companies has begun to emerge: The value of his stock holdings in Moderna jumped nearly $2.4 million, to $12.4 million when the company released preliminary, partial data from an early phase of its candidate vaccine trial. Dr. Slaoui did not come on board as a government employee. Instead, he is on a contract ... that leaves him exempt from federal disclosure rules that would require him to list his outside positions, stock holdings and other potential conflicts. And the contract position is not subject to the same conflict-of-interest laws and regulations that executive branch employees must follow. Dr. Slaoui ... is not the first Trump administration official with close relationships to drug and health care companies. Alex M. Azar II, the health and human services secretary, is a former Eli Lilly executive.
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Investment bankers have pressed health care companies on the front lines of fighting the novel coronavirus, including drug firms developing experimental treatments and medical supply firms, to consider ways that they can profit from the crisis. The largest voices in the health care industry stand to gain from billions of dollars in emergency spending on the pandemic, as do the bankers and investors who invest in health care companies. Over the past few weeks, investment bankers have been candid on investor calls and during health care conferences about the opportunity to raise drug prices. Executives joked about using the attention on Covid-19 to dodge public pressure on the opioid crisis. Health and Human Services Secretary Alex Azar previously served as president of the U.S. division of drug giant Eli Lilly and on the board of the Biotechnology Innovation Organization, a drug lobby group. During a congressional hearing ... Azar rejected the notion that any vaccine or treatment for Covid-19 should be set at an affordable price. “We can’t control that price because we need the private sector to invest,” said Azar. “The priority is to get vaccines and therapeutics. Price controls won’t get us there.” The initial $8.3 billion coronavirus spending bill passed in early March ... contained a provision that prevents the government from delaying the introduction of any new pharmaceutical to address the crisis over affordability concerns. The legislative text was shaped, according to reports, by industry lobbyists.
As the new Coronavirus spreads illness, death, and catastrophe around the world, virtually no economic sector has been spared from harm. Yet amid the mayhem ... one industry is not only surviving, it is profiting handsomely. “Pharmaceutical companies view Covid-19 as a once-in-a-lifetime business opportunity,” said Gerald Posner, author of “Pharma: Greed, Lies, and the Poisoning of America.” The world needs ... treatments and vaccines and, in the U.S., tests. Dozens of companies are now vying to make them. The ability to make money off of pharmaceuticals is already uniquely large in the U.S., which lacks the basic price controls other countries have, giving drug companies more freedom over setting prices for their products than anywhere else in the world. During the current crisis, pharmaceutical makers may have even more leeway than usual because of language industry lobbyists inserted into an $8.3 billion coronavirus spending package, passed last week, to maximize their profits from the pandemic. Initially, some lawmakers had tried to ensure that the federal government would limit how much pharmaceutical companies could reap from vaccines and treatments for the new coronavirus that they developed with the use of public funding. But many Republicans opposed adding language to the bill that would restrict the industry’s ability to profit, arguing that it would stifle research and innovation. The final aid package not only omitted language that would have limited drug makers’ intellectual property rights, it specifically prohibited the federal government from taking any action if it has concerns that the treatments or vaccines developed with public funds are priced too high.
Note: For glaring examples of how big Pharma and select public officials made money hand over fist during previous virus scares, see concise summaries of deeply revealing news articles on the avian and swine flu from reliable major media sources.
Before a vaccine to combat the coronavirus pandemic is within view, the Trump administration has already walked back its initial refusal to promise that any remedy would be affordable to the general public. “We can’t control that price because we need the private sector to invest,” Alex Azar, Health and Human Services secretary and a former drug industry executive, told Congress. After extraordinary blowback, the administration insisted that in the end, any treatment would indeed be affordable. The federal government, though, under the Clinton administration, traded away one of the key tools it could use to make good on the promise of affordability. Gilead Sciences, a drugmaker known for price gouging, has been working with Chinese health authorities to see if the experimental drug remdesivir can treat coronavirus symptoms. But remdesivir, which was previously tested to treat Ebola virus, was developed through research conducted at the University of Alabama ... with funding from the federal government. That’s how much of the pharmaceutical industry’s research and development is funded. The public puts in the money, and private companies keep whatever profits they can. It wasn’t always that way. Before 1995, drug companies were required to sell drugs funded with public money at a reasonable price. Under the Clinton administration, that changed. In April 1995, the Clinton administration capitulated to pharmaceutical industry pressure and rescinded the longstanding “reasonable pricing” rule.
Note: Read an excellent post by an infectious disease doctor saying he's much more concerned about the fear and panic around the Coronavirus than about the virus itself. For more along these lines, see concise summaries of deeply revealing news articles on health from reliable major media sources.
A large scale malaria vaccine study led by the World Health Organization has been criticised by a leading bioethicist for committing a “serious breach” of international ethical standards. The cluster randomised study in Africa is already under way in Malawi, Ghana, and Kenya, where 720,000 children will receive the RTS,S vaccine, known as Mosquirix, over the next two years. Mosquirix, the world’s first licensed malaria vaccine, was positively reviewed by the European Medicines Agency, but its use is being limited to pilot implementation, in part to evaluate outstanding safety concerns that emerged from previous clinical trials. [Among these concerns] were a rate of meningitis in those receiving Mosquirix 10 times that of those who did not, increased cerebral malaria cases, and a doubling in the risk of death (from any cause) in girls. Charles Weijer, a bioethicist at Western University in Canada, told The BMJ that the failure to obtain informed consent from parents whose children are taking part in the study violates the Ottawa Statement, a consensus statement on the ethics of cluster randomised trials, of which Weijer is the lead author, and the Council for International Organizations of Medical Sciences’ International Ethical Guidelines. “The failure to require informed consent is a serious breach of international ethical standards,” he said.
Note: For more along these lines, see concise summaries of deeply revealing news articles on vaccines from reliable major media sources.
The percentage of national income that is absorbed by health care has grown over the past half-century, from 5% in 1960 to 18% in 2017, reducing what is available for anything else from 95% in 1960 to 82% today. The costs of health care contribute to the long-term stagnation in wages; to fewer good jobs, especially for less educated workers; and to rising income inequality. American health care is the most expensive in the world, and yet American health is among the worst among rich countries. The U.S. has lower life expectancy than the other wealthy countries but vastly higher expenditures per person. In 2017, the Swiss lived 5.1 years longer than Americans but spent 30% less per person; other countries achieved a similar length of life for still fewer health dollars. How is it possible that Americans pay so much and get so little? The money is certainly going somewhere. What is waste to a patient is income to a provider. The industry is not very good at promoting health, but it excels at promoting wealth among health care providers. Employer-based coverage is a huge barrier to reform. So is the way that the health care industry is protected in Washington by its lobbyists—five for every member of Congress. Our government is complicit in an extortion that is an important contributor to income inequality. Through pharma companies that get rich by addicting people, and through excessive costs that lower wages and eliminate good jobs, the industry that is supposed to improve our health is undermining it.
Note: For more along these lines, see concise summaries of deeply revealing news articles on health from reliable major media sources.
Drug company Hoffmann-La Roche ... bilked U.S. federal and state governments out of $1.5 billion by misrepresenting clinical studies and falsely claiming that its well-known influenza medicine Tamiflu was effective at containing potential pandemics, according to a recently unsealed whistleblower lawsuit. The lawsuit claims the drugmaker's scheme involved publishing misleading articles falsely stating that Tamiflu reduces complications, severity, hospitalizations, mortality and transmission of influenza. The company then used those articles to aggressively market the drug to the government for pandemic use. Relying on the supposed truthfulness of Roche's claims, federal and state governments spent about $1.5 billion to stockpile Tamiflu to combat influenza pandemics, according to the complaint. The lawsuit brings claims under the False Claims Act, which allows individuals to bring claims on behalf of the government. Whistleblower Dr. Thomas Jefferson, a physician and public health researcher affiliated with the respected global Cochrane Collaboration research network, has researched neuraminidase inhibitors like Tamiflu for more than two decades. He began questioning Tamiflu's efficacy in 2009 and spearheaded efforts to have the company release the underlying clinical study data. When he finally received the data in 2013, Dr. Jefferson analyzed it and concluded that the clinical data does not support Roche's claims about Tamiflu's effectiveness for use in an influenza pandemic.
Note: Though the major media is ignoring this major allegation, it was reported on the website of the highly respected British Medical Journal. Note also that Former U.S. Sect. of Defense Donald Rumsfeld made $5 million from the sales of Tamiflu. More details are available here. For more along these lines, see concise summaries of deeply revealing news articles on pharmaceutical industry corruption from reliable major media sources.
Drugmakers including Bristol-Myers Squibb Co, Gilead Sciences Inc, and Biogen Inc hiked U.S. list prices on more than 50 drugs on Wednesday, bringing total New Year's Day drug price increases to more than 250, according to data analyzed by healthcare research firm 3 Axis Advisors. Reuters reported on Tuesday that drugmakers including Pfizer Inc, GlaxoSmithKline PLC and Sanofi SA were planning to increase prices on more than 200 drugs in the United States on Jan. 1. More early year price increases could still be announced. Many branded drugmakers have pledged to keep their U.S. list price increases below 10% a year, under pressure from politicians and patients. The United States, which leaves drug pricing to market competition, has higher prices than in other countries where governments directly or indirectly control the costs, making it the world's most lucrative market for manufacturers. Soaring U.S. prescription drug prices are expected to again be a central issue in the presidential election.
Note: For more along these lines, see concise summaries of deeply revealing news articles on Big Pharma from reliable major media sources.
Important Note: Explore our full index to key excerpts of revealing major media news articles on several dozen engaging topics. And don't miss amazing excerpts from 20 of the most revealing news articles ever published.